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Segment Information
 6 Months Ended
Jun. 30, 2017
Segment Reporting [Abstract]  
Segment Information
Segment Information
We manage our operations through three segments: real estate, mineral resources and other. Real estate secures entitlements and develops infrastructure on our lands for single-family residential and mixed-use communities, and manages our undeveloped land and commercial and income producing properties, which consists of three multifamily projects and one site. Mineral resources manages our owned mineral interests. Other manages our timber, recreational leases and water resource initiatives.
Total assets allocated by segment are as follows:
 
Second
Quarter-End
 
Year-End
 
2017
 
2016
 
(In thousands)
Real estate
$
374,246

 
$
403,062

Mineral resources
188

 
38,907

Other
10,134

 
11,531

Assets of discontinued operations
1

 
14

Assets not allocated to segments (a)
383,550

 
279,694

 
$
768,119

 
$
733,208


 
 _________________________
(a) 
Assets not allocated to segments at second quarter-end 2017 principally consist of cash and cash equivalents of $381,390,000. Assets not allocated to segments at year-end 2016 principally consist of cash and cash equivalents of $265,798,000 and an income tax receivable of $10,867,000.
We evaluate performance based on segment earnings (loss) before unallocated items and income taxes. Segment earnings (loss) consist of operating income, equity in earnings (loss) of unconsolidated ventures, gain on sales of assets, interest income on loans secured by real estate and net (income) loss attributable to noncontrolling interests. Items not allocated to our business segments consist of general and administrative expense, share-based and long-term incentive compensation, gain on sale of strategic timberland and undeveloped land, interest expense and other corporate non-operating income and expense. The accounting policies of the segments are the same as those described in Note 1—Basis of Presentation. Our revenues are derived from U.S. operations and all of our assets are located in the U.S.
Segment revenues and earnings are as follows:
 
Second Quarter
 
First Six Months
 
2017
 
2016
 
2017
 
2016
 
(In thousands)
Revenues:
 
 
 
 
 
 
 
Real estate
$
27,992

 
$
46,381

 
$
48,744

 
$
82,479

Mineral resources
5

 
1,337

 
1,502

 
2,419

Other
18

 
274

 
74

 
712

Total revenues
$
28,015

 
$
47,992

 
$
50,320

 
$
85,610

Segment earnings (loss):
 
 
 
 

 

Real estate
$
11,545

 
$
73,290

 
$
22,018

 
$
93,514

Mineral resources
(348
)
 
933

 
37,468

 
1,486

Other
(304
)
 
(197
)
 
(691
)
 
(778
)
Total segment earnings
10,893

 
74,026

 
58,795

 
94,222

Items not allocated to segments (a)
(2,773
)
 
(47,435
)
 
(9,677
)
 
(61,639
)
Income from continuing operations before taxes attributable to Forestar Group Inc.
$
8,120

 
$
26,591

 
$
49,118

 
$
32,583


  _________________________
(a) 
Items not allocated to segments consist of:
 
Second Quarter
 
First Six Months
 
2017
 
2016
 
2017
 
2016
 
(In thousands)
General and administrative expense
$
(27,549
)
 
$
(4,514
)
 
$
(31,577
)
 
$
(9,487
)
Shared-based and long-term incentive compensation expense
(1,448
)
 
(412
)
 
(2,343
)
 
(1,956
)
Gain on sale of assets
28,049

 
—

 
28,049

 
—

Interest expense
(2,166
)
 
(6,918
)
 
(4,401
)
 
(14,557
)
Loss on extinguishment of debt, net
—

 
(35,766
)
 
—

 
(35,864
)
Other corporate non-operating income
341

 
175

 
595

 
225

 
$
(2,773
)
 
$
(47,435
)
 
$
(9,677
)
 
$
(61,639
)